Former Alfa-Bank Ukraine could be sold to Polish investors

Friedman and Aven may sell their stakes in the former Ukrainian Alfa Bank
Friedman and Aven may sell their stakes in the former Ukrainian Alfa Bank
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Read also: Alfa Bank Ukraine rebranding into Sense Bank

In April 2022, the National Bank of Ukraine (NBU) appointed Dyankov to manage Sense Bank assets owned by sanctioned individuals.

In the interview, Dyankov said he is in communication with a potential investor from Poland regarding the sale of Sense Bank.

“In the near future I will have meetings at the NBU (National Bank of Ukraine) and the Office of the President, where I would like to agree on our further steps,” Dyankov said.

According to him, both he and the Polish investor sent NBU letters of intent regarding the purchase. He added that a corresponding memorandum had already been signed and preparations for due diligence are undedrway.

“We offered the potential partner to delegate his representative to an independent member of the (Sense Bank’s) Oversight Board,” said the banker.

Read also: No reason to nationalize former Alfa-Bank, NBU says

“I’m now writing a plan in which I detail our next steps.”

According to Dyankov, during the first stage of the agreement with the investor, it is planned to “significantly reduce the share of sanctioned shareholders” in Sense Bank. He noted that the shareholders are ready to sell their shares.

“But we need to conduct due diligence and, based on its results, decide who will own what in the new bank,” Dyankov emphasized.

Read also: Russia’s Alfa-Bank preparing deal to sell co-owners’ shares

“Further steps need to be approved. We are interested in moving quickly. The path is not easy.”

Read also: National Bank of Ukraine wants to lift currency restrictions

In December 2022, Alfa-Bank Ukraine rebranded to Sense Bank – to avoid association with Russia’s Alfa-Bank.

A week earlier, the Financial Times reported that Russian oligarchs Mikhail Fridman and Petr Aven were dumping their stakes in Russian Alfa Bank to Russian entrepreneur Andrei Kosogov, hoping the move would get them off Western sanction lists.

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Read the original article on The New Voice of Ukraine